Older apartments are now at the forefront of Greece’s rising property market, according to provisional figures released by the Bank of Greece, highlighting a shift in demand toward more affordable housing options.
Housing prices continued to climb in 2025, although the pace of growth eased slightly compared to the previous year. In the final quarter of 2025, apartment prices rose by an average of 7.6% compared with the same period in 2024. Over the full year, prices increased by 7.8%, down from a stronger 9.1% rise recorded in 2024.
A breakdown of the data reveals that older properties are leading the market. Apartments more than five years old saw prices increase by 7.8% year-on-year in the fourth quarter, outperforming newer units—defined as up to five years old—which rose by 7.4%. This pattern held throughout the year, with older apartments posting an average annual increase of 8.1%, compared with 7.4% for newer homes. While price growth for newly built properties slowed significantly from 10.2% in 2024, older homes proved more resilient, with only a marginal decline from the previous year’s growth rate.
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Regionally, price trends varied across the country. In Athens, the capital, prices rose more moderately, increasing by 5.9% in the final quarter of 2025. Greece’s second-largest city, Thessaloniki, recorded stronger growth at 8.0%, while other major urban centers saw even sharper increases of 10.5%. In the rest of the country, prices rose by 8.6% over the same period. For the year as a whole, the pattern was similar, with Thessaloniki and other large cities outpacing Athens.
Across all urban areas, apartment prices rose by an average of 7.3% in the fourth quarter compared with a year earlier, while the overall annual increase for 2025 reached 7.5%.
